New Delhi, Mar 22 (IANS): Aurum Ventures has bought the promoters stake in Majesco Limited and announced an open offer for Majesco shareholders.

Aurum Ventures is now the first real estate group to invest in a software , IT company.

Ashish Deora, Founder and CEO of Aurum Ventures said "Majesco Limited is a good strategic fit for Aurum's real estate value chain. The acquisition portrays our capability, expertise and confidence in real estate which is going through a paradigm shift. We are evaluating strategies and will come out with a growth roadmap in the coming months."

Ketan Mehta, Founder and Non-Executive Director of Majesco Limited added "We have till date delivered significant value to the Majesco shareholders and our decision to hand over control to Aurum Ventures Group was made keeping in mind the long-term interest of the shareholders after evaluating various options. Aurum Ventures is an established player in the real estate business and we thought it is a good fit for them."

Aurum Platz IT Private Limited is making an open offer to the public shareholders of Majesco at a price of Rs 77. The open offer is for acquiring 74.43 lakh shares.

Majesco was locked in at the upper price band of 5 per cent on BSE at Rs 66.55.